Principal Financial Group Inc. Grows Position in LKQ Co. (NASDAQ:LKQ)

Principal Financial Group Inc. boosted its stake in LKQ Co. (NASDAQ:LKQ) by 230.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,011,132 shares of the auto parts company’s stock after purchasing an additional 705,040 shares during the quarter. Principal Financial Group Inc. owned about 0.38% of LKQ worth $42,053,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Homestead Advisers Corp purchased a new position in shares of LKQ in the 4th quarter worth $20,583,000. Manning & Napier Advisors LLC acquired a new position in shares of LKQ in the 2nd quarter valued at about $3,839,000. KBC Group NV grew its holdings in shares of LKQ by 49.2% during the 4th quarter. KBC Group NV now owns 689,041 shares of the auto parts company’s stock worth $32,929,000 after purchasing an additional 227,314 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in LKQ during the 1st quarter worth approximately $1,468,000. Finally, Capital World Investors raised its holdings in LKQ by 91.0% in the first quarter. Capital World Investors now owns 582,953 shares of the auto parts company’s stock valued at $31,136,000 after buying an additional 277,700 shares during the period. 95.63% of the stock is owned by hedge funds and other institutional investors.

LKQ Price Performance

Shares of LKQ stock opened at $41.59 on Friday. The company has a fifty day moving average price of $41.64 and a 200 day moving average price of $45.35. The company has a current ratio of 1.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.69. LKQ Co. has a twelve month low of $35.57 and a twelve month high of $54.07. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 13.50 and a beta of 1.29.

LKQ (NASDAQ:LKQ) last posted its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. Equities research analysts forecast that LKQ Co. will post 3.6 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.89%. LKQ’s payout ratio is currently 38.96%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Roth Mkm reiterated a “buy” rating and set a $65.00 price objective on shares of LKQ in a research note on Thursday, July 25th. Barrington Research restated an “outperform” rating and set a $60.00 target price on shares of LKQ in a report on Thursday, July 25th. Finally, Robert W. Baird decreased their price target on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, LKQ has a consensus rating of “Moderate Buy” and a consensus target price of $60.80.

Insider Buying and Selling at LKQ

In other news, SVP Matthew J. Mckay acquired 2,500 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was bought at an average cost of $39.75 per share, with a total value of $99,375.00. Following the transaction, the senior vice president now directly owns 94,670 shares in the company, valued at approximately $3,763,132.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Matthew J. Mckay bought 2,500 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were acquired at an average price of $39.75 per share, for a total transaction of $99,375.00. Following the purchase, the senior vice president now owns 94,670 shares in the company, valued at approximately $3,763,132.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andrew C. Clarke purchased 7,600 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $39.70 per share, with a total value of $301,720.00. Following the completion of the purchase, the director now directly owns 10,519 shares of the company’s stock, valued at approximately $417,604.30. The disclosure for this purchase can be found here. Insiders bought a total of 12,600 shares of company stock valued at $500,870 in the last ninety days. Insiders own 0.55% of the company’s stock.

LKQ Profile

LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries.